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ASX appoints new compliance chief amid pressure to deliver on turnaround plan

ASX appoints new compliance chief amid pressure to deliver on turnaround plan

By Swedan Margen

Fashion

AUSTRALIAN stock exchange operator ASX has appointed Lucinda McCann as its new chief compliance officer with immediate effect, the company said on Monday, amid mounting pressure to deliver on its multi-year turnaround plan.

The appointment comes as ASX faces heightened regulatory scrutiny following a string of compliance and operational setbacks, including the central bank’s recent criticism of its governance and a probe by the corporate regulator in June.

Last month, ASX Chair David Clarke said the exchange’s transformation programme “cannot fail”, highlighting the urgency to strengthen its technology systems and risk management.

The company is halfway through a five-year effort to modernise operations and restore resilience after several high-profile disruptions, including a trading settlement delay in 2024.

McCann, who has a more than 25 years of experience, joined ASX from international law firm Norton Rose Fulbright, where she was a partner.

She has previously worked with the Australian Prudential Regulation Authority for five years, including serving as the regulator’s chief general council.

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ANZ's cash profit dipped 14 per cent to A$5.79 billion (S$5 billion) in the 12 months through Sep 30 from a year earlier.

She replaced Daniel Moran, who resigned in July after a 15-year tenure with the exchange. REUTERS

Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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